Summary:
By 2029, India's online gaming sector is projected to grow more than twice its current size, reaching Rs. 78,551 crore (US$ 9.1 billion) compared to Rs. 31,938 crore (US$ 3.7 billion) in 2024, according to a joint report from WinZO Games and the Interactive Entertainment and Innovation Council (IEIC). Dominating the market, Real Money Gaming (RMG) contributed Rs. 27,438 crore (US$ 3.2 billion) in 2024, accounting for 85.7% of the total revenue. However, as non-RMG games grow in popularity, RMG's market share is forecasted to decline to 80% by 2029. A substantial Rs. 25,896 crore (US$ 3 billion) in foreign direct investment (FDI) has flowed into the sector, with a striking 85% directed towards the Pay-to-Play segment.
The report further notes that India boasts 591 million gamers, representing 20% of the global gaming population, with 11.2 billion mobile game downloads annually. Additionally, the nation is home to 1,900 gaming companies, collectively employing 1.3 lakh skilled professionals. Looking ahead, the market's potential is enormous, with an estimated Rs. 5,43,816 crore (US$ 63 billion) in investor value expected to be unlocked by 2029. By 2034, the sector is projected to expand further, reaching Rs. 5,18,053 crore (US$ 60 billion), generating over two million new jobs, attracting more FDI and significantly contributing to the export of Indian intellectual property (IP).
Source: IBEF
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